5 signs you’re losing Market Share (and how to fix it)

May 20, 2024 — Pavle Sarcevic

Losing market share can feel like a slow leak in your bottom line. While it may not be immediately obvious, its long-term impact is significant. Spotting the warning signs early can help you fix the problem before it spirals out of control. Below are five critical signs that you’re losing market share, and more importantly, how you can address them.

1. Your revenue is growing, but slower than the industry

Revenue growth is always a positive sign. However, if your competitors are growing faster, you’re still losing market share. This scenario is common when the industry is booming, but your brand isn't keeping pace.

How to fix it:

Action	Description
Benchmark Against Competitors	Use tools like Blask's YoY and MoM growth metrics to compare your growth with industry averages. This can help you understand how well you’re performing relative to the market.
Adjust Your Strategy	If your share is shrinking, it’s time to refine your approach. Consider boosting marketing efforts, improving product quality, or expanding into new markets.

2. Increased customer churn

Losing customers faster than you can acquire new ones will erode your market share. If you notice that customers are consistently leaving, especially to competitors, this is a major red flag.

How to fix it:

Enhance retention strategies:
Implement loyalty programs, improve customer support, or offer personalized experiences. Monitoring customer retention is essential to reducing churn rates.
Engage with feedback:
Conduct exit surveys with departing customers to understand their reasons for leaving. Use this data to resolve common complaints and issues.

3. Your competitors are gaining visibility

If your competitors are gaining traction in online searches, social media, or ad spend, they’re likely eating into your market share.

How to fix it:

Action	Description
Boost Brand Awareness	Increase marketing efforts. By tracking market sentiment through tools like Blask Index, you can see how your brand compares in terms of search volume and public attention.
Optimize SEO	Ensure your website and content are optimized for relevant keywords. Use competitive analysis tools to track how you rank against others in search engine visibility.

4. Stagnating year-over-year (YoY) and month-over-month (MoM) growth

YoY and MoM growth metrics are key indicators of overall performance. If these metrics are stagnating while your competitors are growing, it’s a signal to act.

How to fix it:

Key Metrics	Action Plan
YoY and MoM Growth	Use Blask’s YoY and MoM growth tracking to identify lagging areas. Analyze player acquisition, retention, and engagement rates.
Data-Driven Decisions	Adjust your strategy using real-time data insights. Focus efforts on underperforming areas, such as engagement or revenue streams.

5. Declining Gross gaming revenue (GGR)

Gross Gaming Revenue (GGR) represents total revenue before expenses. A drop in GGR is not just a loss in revenue; it can signal a shrinking market share, especially if competitors are growing.

How to fix it:

Action	Description
Compare GGR with Competitors	Use tools like Blask’s eGGR (Estimated Gross Gaming Revenue) to compare your revenue with your competitors. If they’re outperforming you, a strategic shift is needed.
Focus on Player Acquisition & Retention	Increase promotions, enhance product offerings, and improve the user experience to stabilize and boost GGR.

Visual summary of signs and fixes

Signs of Losing Market Share	Fixes
Slower Revenue Growth	Benchmark against competitors, adjust strategy
Increased Customer Churn	Enhance retention, engage with feedback
Competitors Gaining Visibility	Boost brand awareness, optimize SEO
Stagnating YoY/MoM Growth	Analyze key metrics, implement data-driven decisions
Declining GGR	Compare GGR with competitors, focus on acquisition and retention

Final thoughts

Losing market share doesn’t have to be the end. By recognizing these signs early and taking action, you can reverse the trend and return to growth. Tools like Blask’s comprehensive market tracking, from YoY growth metrics to customer retention insights, can give you the data you need to stay ahead.